London--Pearson plc, publisher of the Financial Times,
said Friday that the company remains on track to deliver significant earnings recovery for the full year, although the FT Group continues to struggle against the ad recession. The company, which generates around 60% of its revenue from educational publishing, expects adjusted earnings of around 48 cents a share, compared with 34 cents a share in 2001. However, the FT Group's business and financial newspapers face an uphill battle against the prolonged ad slump, with ad revenues at the Financial Times
down 11% in 2002 compared with 2001.